The proof of the pudding is in the drainage: Actual Customer—Should we put in 5 wells or 4? Should we wine rack or stack? Petro.ai stitched together a large model. We calibrated their assumptions on drainage. Then we trained that multivariate model to predict production. Accuracy of the model: 91%. Our ongoing mission is to shift the O&G industry away from an understanding of shale that’s restricting business growth and leaving too much oil and gas in the ground. A complex understanding provides a pad’s full drainage potential.
The proof of the pudding is in the AI: Actual Customers—They have DUC (drilled but uncompleted) wells. How much proppant can they pump? Can we lower our historical pounds per foot? Time after time we’ve shown that even though you have a recent well which had great performance, it was probably due to other factors besides proppant. That’s what the multivariate system helps you understand—what makes the difference. Accuracy of the model: 90%. With a fast turnaround time. The pure potential of AI solutions is providing a whole new strategy to business operations. Operating models at the reservoir level, at the pad level, at the well level have new and exciting intricacies that create scalable scope for critical decisions.
The proof of the pudding is in the Petro.ai process that meets shale challenges at every point in the well life cycle:
- Infill development around parent wells? Petro.ai models parent well drainage volumes and infill completion geometries to optimize new well placement.
- Reducing proppant volumes to cut costs? Build a productivity model based on offset well data, update the cost model with the latest service pricing, test sensitivities of each parameter.
- Vertical frac interference? Model the reservoir using subsurface data, predict frac behavior using geomechanics, test various spacing scenarios, forecast well productivity
- Optimizing wells per section? Build a reservoir model using subsurface data, predict frac behavior using geomechanics, calculate drainage factors for area, forecast well productivity.
How do you actually use Petro.ai? At any point in the well lifecycle, you pick a particular problem, dial in an array of intensities to deliver an optimization report with all your potential tradeoffs. Petro.ai is an AI (artificial intelligence) company. You provide your data and models to us. Petro.ai puts it into the system. We tune the system for you. Then we use that system to answer your important questions.
Kyle LaMotta, VP of Analytics summarizes, “We make predictions of production and we’re doing that with machine learning and AI. What does production look like through the well life cycle? Prediction and production are seen as accurately as possible. You want to have full information about what the well is doing now and what it will be doing over the life of the well. At the end of the day, that’s what gives value to a company. Prediction of production. You’re already making predictions. How are ours different? We don’t do the modeling—we have a system that puts it all together.
We have a system that ingests it all and gives you the predictions back. If you have this model you can put these inputs in. Do you have a spot for drainage? You need one.”
“We are here to disrupt the O&G industry, to change the direction of shale, a resource that is perfect for the AI engine,” Dr. Troy Ruths explains, “Conventionals is different. Unconventionals has the variable consistency that is perfect for machine learning. What are we disrupting? We’re disrupting consulting. Consultants can’t give you the consistent quality of answer that AI can. AI is a powerful data learning, memory and calculation machine. We’re disrupting the random human quality on the technical work. We’re providing what a consultant can’t bring, a myriad of real options that predict production within your economic environment. And it’s fast. And it’s accurate. Petro.ai is the ultimate consultant.”
Petro.ai is production AI. Petro.ai is completions AI. Petro.ai is capital AI. It’s a full service understanding of every point in your well lifecycle. Petro.ai is the first real AI engine in the industry. We’re building a new vision of shale. And the real proof of the pudding? It’s all in the accuracy.